12 Jun New Study Suggests Privacy Fears Hamper App, Online Payments
According to a recent study by financial firm PaySafe, data privacy and security may be presenting and obstacle to the increased adoption of digital “frictionless” payments.
In the report “Lost in Translation: Payment Trends 2018”, it was established that only 23% of consumers have used such payment methods, while only 18% have tried out a voice-activated payments system.
Polling around 5000 consumers from UK, US, Canada, Germany and Austria, PaySafe found that one of the reasons for the low levels of adoption is because half of consumers in these markets consider fraud as the greatest barrier, while 48% are worried about how their personal data is used. As for voice-activated systems, 65% think that they are not secure, while 63% fear being overcharged if they use this kind of service.